JPVL Q4 net loss shrinks to Rs 229.82 cr

Jaiprakash Power Ventures Ltd (JPVL) today said that its standalone net loss narrowed to Rs 229.82 crore in the fourth quarter ended March 31, 2017.
The company's standalone net loss after taxes, minority interest and share of profit was Rs 335.57 crore in the year- ago period, JPVL stated in a BSE filing.
According to statement, the company's standalone total income from operations was Rs 678.79 crore in the fourth quarter, up from Rs 676.17 crore in year-ago period.
However, its standalone net loss rose to Rs 760.61 crore in 2016-17 as compared to Rs 231.80 crore in previous fiscal. The company's total income from operations was Rs 2,791.63 crore in 2016-17, down from Rs 3,883.68 crore year ago.

The company's consolidated net loss also increased to Rs 1,232.96 crore in 2016-17, from Rs 255.02 crore in the previous fiscal. Its consolidated total income from operations was Rs 4,657.47 crore in the fiscal, up from Rs 4,113.27 crore in the previous year.
The company said that its financial performance and cash flows have been adversely impacted by overall stress in power sector and also due to specific challenges faced by the company in last two years in its thermal plants.